The American Institute of CPAs announced that Judith H. O’Dell was honored with its Special Recognition Award for her work to create changes for private company financial reporting standards.

The award, established in 1999, is given to someone, not necessarily a CPA, who has made outstanding contributions to the success of a particular initiative.

The award was presented to O’Dell by William Balhoff, chairman of the AICPA’s board of directors at the Institute’s major firms group meeting earlier this month.

“Since the resurgence of the effort to make meaningful changes to GAAP for private companies a reality, Judy O’Dell has been on the forefront,” stated Balhoff. “In addition to prior high profile related efforts, Judy was selected by both the AICPA and Financial Accounting Standards Board to chair the Private Company Financial Reporting Committee of the FASB. The hard work of Judy and the committee members laid the foundation for the next evolution for private companies. Judy was part of the Blue Ribbon Panel on Standard Setting for Private Companies process and worked tirelessly to keep this concept moving forward. In addition, she worked within the FASB processes to raise the awareness and concern of private business. In fact, you can say unequivocally that Judy has been instrumental in helping us arrive at this point of the Private Company Council working with FASB to effect meaningful changes in GAAP for privates companies where warranted.”

O’Dell, president of O’Dell Valuation Consulting in Chestertown, Md., has more than 40 years of public accounting experience and was named one of Accounting Today’s 100 Most Influential People from 2007 through 2011 for her private company advocacy. She has also served on the board of the AICPA, as trustee of the Financial Accounting Foundation, and chair of the Audit Advisory Committee of the U.S. General Accountability Office.

O’Dell has written and taught continuing education courses for Practitioners Publishing Company and AuditSense. She also served as chair of the board of Maine Media Workshops + College in Rockport, Maine.